Maxim Integrated Products Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Maxim Integrated Products Inc. (MXIM) announced earnings for first quarter that fell from last year.

The company's earnings came in at $140.16 million, or $0.51 per share. This compares with $197.42 million, or $0.70 per share, in last year's first quarter.

Excluding items, Maxim Integrated Products Inc. reported adjusted earnings of $141.77 million or $0.52 per share for the period.

Analysts had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.5% to $533.04 million from $638.49 million last year.

Maxim Integrated Products Inc. earnings at a glance:

-Earnings (Q1): $141.77 Mln. vs. $210.54 Mln. last year. -EPS (Q1): $0.52 vs. $0.75 last year. -Analysts Estimate: $0.49 -Revenue (Q1): $533.04 Mln vs. $638.49 Mln last year.

-Guidance: Next quarter EPS guidance: $525 to $565 Mln Next quarter revenue guidance: $0.49 to $0.57